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The Times of India

Top News / The Times of India

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Trillion dollar gap: US budget deficit swells to nearly $2 tn in fiscal 2026

In fiscal 2026, the United States government faced a substantial budget shortfall of $2 trillion, largely attributed to soaring expenditures. Key factors included rising debt-service costs, increased social benefits, and heightened defense spending. Meanwhile, a Supreme Court ruling resulted in reduced tariff collections and notable refunds. This deficit represents 6.

17 Oct 2026 8:10 am